Options Skew Analytics

ADM option chain

Strikes around the forward, as they were quoted at the close

Data as of 6 November 2026 (end of day)

2026-11-20(14 days)ATM 32.46%±4.46skew +2.73
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$30.00$31.80—$40.00—————
010$22.50$24.10—$47.50—————
01$20.00$21.50—$50.00—————
01$10.00$11.40—$60.00—————
09$5.40$5.90—$65.0034.09%$0.25$0.306917
03$3.40$3.80—$67.5032.23%$0.65$0.75112
80498$1.75$2.05—$70.0032.64%$1.60$1.7538761
1561,220$0.70$0.8029.50%$72.50—$3.10$3.3059623
19264$0.30$0.4032.19%$75.00—$4.60$5.6061017
283711$0.10$0.1532.62%$77.50—$7.10$8.001,16316
—————$80.00—$9.40$10.704850
—————$82.50—$11.60$13.103710
—————$85.00—$14.00$15.604020
—————$87.50—$16.70$17.90287
—————$90.00—$19.10$20.2050
—————$92.50—$21.50$23.1020

Forward $70.23. The 25-delta put carries +2.73 volatility points over the 25-delta call.

2026-12-18(42 days)ATM 29.96%±7.15skew +1.86
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$31.90$34.40—$37.50—————
010$24.40$26.90—$45.00—————
01$21.90$24.40—$47.50—————
09$19.40$21.90—$50.00—————
04$14.30$17.00—$55.00—————
01,409$12.50$13.90—$57.50—————
151$10.20$11.50—$60.0032.97%$0.20$0.3020021
0311$8.10$9.10—$62.5032.05%$0.45$0.557834
1137$6.00$6.60—$65.0030.73%$0.85$0.9553186
054$4.30$4.90—$67.5030.19%$1.55$1.651581,306
692$2.80$3.30—$70.0030.25%$2.60$2.7524582
472251$1.75$1.9528.90%$72.50—$4.00$4.201531
14516$1.00$1.2028.87%$75.00—$5.80$6.001451
297109$0.55$0.7029.00%$77.50—$7.20$8.401370
23891$0.30$0.4529.96%$80.00—$9.40$10.602420
—————$82.50—$11.60$13.202530
—————$85.00—$14.10$15.704870
—————$87.50—$16.10$18.2050
—————$90.00—$18.60$21.00120
—————$92.50—$21.10$23.20220

Forward $70.38. The 25-delta put carries +1.86 volatility points over the 25-delta call.

2027-01-15(70 days)ATM 29.73%±9.19skew +1.40
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
035$24.30$26.90—$45.00—————
0149$21.80$24.50—$47.50—————
0287$19.30$22.00—$50.00—————
0185$17.50$19.00—$52.50—————
0125$15.10$16.70—$55.00—————
0173$12.80$14.20—$57.5034.90%$0.30$0.501320
6961$10.80$11.80—$60.0032.46%$0.50$0.652900
12,927$8.50$9.70—$62.5031.64%$0.85$1.052806
142,131$6.80$7.70—$65.0030.60%$1.40$1.551,2970
0804$4.90$5.90—$67.5030.39%$2.25$2.3574539
381,136$3.70$4.10—$70.0029.50%$3.20$3.40539102
94622$2.60$3.1029.97%$72.50—$4.20$4.906680
162838$1.75$2.0529.16%$75.00—$6.00$6.504005
21,680$1.15$1.4029.20%$77.50—$7.90$8.402,56414
172,630$0.75$1.0029.77%$80.00—$9.90$10.608436
93479$0.45$0.6029.23%$82.50—$11.90$13.20903
21,016$0.30$0.4530.31%$85.00—$14.30$15.702180
—————$87.50—$16.60$18.201780
—————$90.00—$18.60$20.80750
—————$92.50—$21.10$23.30700
4569$0.05$0.1032.33%$95.00—$23.60$25.70200

Forward $70.60. The 25-delta put carries +1.40 volatility points over the 25-delta call.

2027-03-19(133 days)ATM 31.57%±13.47skew +1.57
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
03$34.30$36.90—$35.00—————
01$20.20$22.40—$50.0036.61%$0.25$0.40750
04$15.70$17.20—$55.00—————
020$13.60$14.80—$57.5034.96%$0.90$1.40430
013$11.50$12.80—$60.0033.22%$1.40$1.6045046
611$9.90$10.40—$62.5032.33%$1.95$2.1525113
039$7.90$9.00—$65.0031.83%$2.65$2.959943
71152$6.70$7.40—$67.5031.53%$3.60$3.905632
34164$5.30$5.80—$70.0031.33%$4.70$5.1018749
48585$4.20$4.8031.60%$72.50—$6.00$6.401543
3160$3.30$3.8031.44%$75.00—$7.50$8.002171
39762$2.50$2.9531.04%$77.50—$9.20$9.708013
5171,548$1.90$2.3031.00%$80.00—$11.00$11.6015618
33146$1.45$1.7030.76%$82.50—$13.00$13.60905
0799$1.00$1.3530.64%$85.00—$15.10$15.80812
0230$0.80$1.2532.15%$87.50—$17.30$18.10321
2310$0.60$1.0032.45%$90.00—$19.70$20.40270
—————$92.50—$21.80$23.3040
—————$95.00—$23.80$25.7040
—————$100.00—$28.60$30.8010

Forward $70.66. The 25-delta put carries +1.57 volatility points over the 25-delta call.

2027-06-17(223 days)ATM 32.87%±18.25skew +1.88
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$29.90$32.10—$40.00—————
012$20.80$22.80—$50.0035.69%$0.65$0.95160
010$16.50$18.40—$55.0034.50%$1.25$1.75310
020$12.80$14.20—$60.0033.34%$2.25$2.90410
03$11.00$12.30—$62.50—————
061$9.40$10.70—$65.0032.16%$3.70$4.502130
095$8.00$9.20—$67.5032.06%$4.80$5.501113
068$6.80$7.90—$70.0031.99%$6.00$6.70521
073$5.90$7.0032.85%$72.50—$7.20$8.00461
0220$5.00$6.0032.87%$75.00—$8.60$9.50920
041$4.20$4.8032.10%$77.50—$10.20$11.10600
529$3.40$4.0031.71%$80.00—$12.00$12.90799
2124$2.80$3.5032.05%$82.50—$13.80$14.901122
193$2.30$2.8031.65%$85.00—$15.70$16.904761
167$1.85$2.3031.46%$87.50—$17.70$18.90191
10486$1.55$1.8531.43%$90.00—$19.80$21.20120
0173$1.20$1.7031.85%$92.50—————
—————$95.00—$24.40$25.9010
0204$0.65$0.9031.71%$100.00—————

Forward $71.03. The 25-delta put carries +1.88 volatility points over the 25-delta call.

2027-09-17(315 days)ATM 32.59%±21.60skew +0.70
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$30.10$32.40—$40.00—————
03$25.70$27.70—$45.00—————
01$23.60$25.40—$47.50—————
03$21.50$22.90—$50.0035.31%$1.05$1.60160
023$17.50$19.50—$55.0034.13%$1.85$2.5590
01$13.90$15.80—$60.0032.86%$3.00$3.8020
06$10.80$12.60—$65.0032.10%$4.70$5.50160
05$8.20$9.70—$70.0031.55%$6.80$7.80150
01$7.00$8.3031.98%$72.50—$8.30$9.2040
297$6.50$7.2032.61%$75.00—$9.70$10.60150
724$5.50$6.3032.24%$77.50—$11.20$12.20760
010$4.70$5.5032.08%$80.00—$12.80$13.9020
06$4.00$4.9032.18%$82.50—$14.30$15.70140
07$3.40$4.3032.16%$85.00—$16.10$17.70140
01$2.90$3.9032.49%$87.50—————
13$1.75$2.5032.16%$95.00—————
161$1.25$1.5030.94%$100.00—————
—————$125.00—$53.30$56.3010

Forward $71.36. The 25-delta put carries +0.70 volatility points over the 25-delta call.

How to read this

Calls on the left, puts on the right, the strike between them — the layout every chain uses. Each block is one expiration, and the heading carries its days to expiry, the at-the-money implied volatility, and the one-standard-deviation move that volatility implies over that time.

Only the 21 strikes nearest the forward are stored, which is the part of the board that carries the volume. The shaded side is in the money: below the forward for calls, above it for puts.

Implied volatility is shown on the out-of-the-money side only. An in-the-money option is nearly all intrinsic value quoted on a wide market, so a volatility solved from it would look authoritative and mean very little. The price is still shown, because the price is real; the blank is deliberate.